Bronstein, Gewirtz & Grossman LLC Urges PicS N.V. Investors to Act: Class Action Filed Alleging Investor Harm

Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against PicS N.V. (NASDAQ: PICS) and certain of its officers. This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired PicS securities pursuant to the registration statement and prospectus issued in connection with the Company's January 30, 2026 initial public offering ("IPO"). The Complaint alleges that, in connection with the initial public offering, Defendants made materially false and misleading statements and/or failed to disclose that: PicS had identified deficiencies in its credit evaluation procedures following an internal review conducted in December 2025, which required significant enhancement; as a result of implementing revised procedures, the Company reclassified approximately R$590 million in credit exposures from Stage 2 to Stage 3, resulting in an additional expected credit loss (“ECL”) charge of approximately R$88 million in the fourth quarter of 2025; the Company experienced an elevated and undisclosed Stage 3 formation rate exceeding 7% during the fourth quarter of 2025, significantly above historical levels; Defendants materially overstated the effectiveness of PicS’s credit models, underwriting practices, and customer data in assessing and managing credit risk; and PicS was experiencing deteriorating customer credit quality, increased default risk, and rising loan impairments tied to its expansion into higher-risk lending products, reflecting adverse financial and operational trends that existed prior to the IPO and were reasonably likely to persist.